[Get Liquidated 1 billion USD, Ethereum fights again at 4800]

Last night, the market experienced a brief sharp decline, and I conducted an in-depth analysis with my buddies in the live broadcast room. Last night, the futures market saw a large number of Get Liquidated, and although this decline was not the largest pullback since the launch of Ethereum, the volume of Get Liquidated was the largest this time, so it is necessary to analyze it thoroughly.

From a price perspective, Ethereum's maximum drop was 7%, with a low of 4450 USD, which means high leverage longs were directly taken out. In fact, according to surf's liquidation data, the liquidation amount in the past 24 hours was about 1 billion USD, with longs occupying 80%. Furthermore, one third of the liquidation volume was concentrated in the Ethereum price range of 4461-4551 USD. In a certain sense, this is a strong counterattack by the bears and a desperate battle for the bulls, as the resistance zone of 4800-5000 is crucial. A breakthrough would open up new space, while failure could lead to a turbulent predicament, and even lose the opportunity for new highs in the bull market.

The overall market trend at a macro level is still bullish, so be cautious about managing risks.